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Company No: 10232910 (England and Wales)

R M TRADE FRAMES LIMITED

Unaudited Financial Statements
For the financial year ended 30 June 2023
Pages for filing with the registrar

R M TRADE FRAMES LIMITED

Unaudited Financial Statements

For the financial year ended 30 June 2023

Contents

R M TRADE FRAMES LIMITED

BALANCE SHEET

As at 30 June 2023
R M TRADE FRAMES LIMITED

BALANCE SHEET (continued)

As at 30 June 2023
Note 2023 2022
£ £
Fixed assets
Tangible assets 3 171 71
171 71
Current assets
Stocks 4,165 18,400
Debtors 4 46,370 18,122
Cash at bank and in hand 1,896 18,275
52,431 54,797
Creditors: amounts falling due within one year 5 ( 58,603) ( 64,095)
Net current liabilities (6,172) (9,298)
Total assets less current liabilities (6,001) (9,227)
Net liabilities ( 6,001) ( 9,227)
Capital and reserves
Called-up share capital 6 100 100
Profit and loss account ( 6,101 ) ( 9,327 )
Total shareholders' deficit ( 6,001) ( 9,227)

For the financial year ending 30 June 2023 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The financial statements of R M Trade Frames Limited (registered number: 10232910) were approved and authorised for issue by the Director on 20 March 2024. They were signed on its behalf by:

Mr R Mitchell
Director
R M TRADE FRAMES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 June 2023
R M TRADE FRAMES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 June 2023
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

R M Trade Frames Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Office 5 Ridgeway Business Centre, 127 Ridgeway, Plympton, PL7 2AA, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The director has assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The director has a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer. Turnover from the sale of goods is recognised when the goods are physically delivered to the customer.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line basis over its expected useful life, as follows:

Office equipment 4 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account as described below.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.

Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.

Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.

Other basic financial liabilities are measured at amortised cost.

2. Employees

2023 2022
Number Number
Monthly average number of persons employed by the Company during the year, including the director 2 2

3. Tangible assets

Office equipment Total
£ £
Cost
At 01 July 2022 122 122
Additions 149 149
At 30 June 2023 271 271
Accumulated depreciation
At 01 July 2022 51 51
Charge for the financial year 49 49
At 30 June 2023 100 100
Net book value
At 30 June 2023 171 171
At 30 June 2022 71 71

4. Debtors

2023 2022
£ £
Trade debtors 40,157 17,511
VAT recoverable 6,213 0
Other debtors 0 611
46,370 18,122

5. Creditors: amounts falling due within one year

2023 2022
£ £
Trade creditors 9,132 17,500
Other creditors 49,471 46,595
58,603 64,095

6. Called-up share capital

2023 2022
£ £
Allotted, called-up and fully-paid
50 Ordinary shares of £ 1.00 each 50 50
25 Ordinary A shares of £ 1.00 each 25 25
25 Ordinary B shares of £ 1.00 each 25 25
100 100